About Jewel Caraway

About Me

About Jewel Caraway

My name is Jewel, and welcome to my site! I started it to help people find out more about family law and divorce attorneys after my own experience. I have to tell you--getting a divorce is never pleasant, but sometimes it's the only option. I won't go into details, but in my old marriage I just had to get me and my kids out. But the legal stuff was a pain to deal with. Not to say it wasn't worth it, but it was definitely hard to navigate. Divorce papers, the custody battle--if you don't have a guide and a good lawyer, it is so difficult. So the purpose of this site is to help you work the system. Good luck making a better life for yourself!

4 Reasons To File Chapter 7 Bankruptcy

There are multiple reasons that people incur financial difficulties. There could be an interruption in work availability. Other times, there may be unusual debts from family emergencies. However, regardless of the reason for debts, owing a lot of money can place a strong financial burden on a person. Still, there is debt relief available. Here are a few reasons to consider filing Chapter 7 bankruptcy to relieve your debt:

No more creditor calls.

If you are being harassed by creditors, filing Chapter 7 bankruptcy can stop the calls. Although creditors are sometimes limited to calling at certain hours and they are not permitted to threaten you, calls from lenders can be upsetting. Once you file Chapter 7 bankruptcy, the creditors are no longer permitted to contact you concerning the debt.

You can have a fresh start.

Chapter 7 bankruptcy removes the responsibility of most unsecured debts. Credit card debts and other unsecured loans may be completely erased. Although the bankruptcy affects your credit rating for a period, the financial responsibility of repaying debts that you cannot afford to pay back is often eradicated. Still, certain types of debt may not be discharged. These include unpaid child support, unpaid alimony, student loans and tax debt.

You can often keep your home.

With a Chapter 7 bankruptcy, you are often allowed to keep essential pieces of property, such as your primary home and car. This can help ensure that your financial status can improve. It can be difficult to work if you have no transportation. In addition, your credit may have suffered during your financial hardship, making it difficult to purchase a new home or even rent an apartment.

The debtor's wages are usually not garnished.

Once a debt is discharged by a Chapter 7 bankruptcy, the debtor owes nothing. Unlike chapter 13 bankruptcy, which reduces the amount of debt owed so that it more closely coincides with the debtor's income, a Chapter 7 bankruptcy eliminate the debt.

Who is eligible?

Only certain people are eligible for Chapter 7 bankruptcy. In order to file Chapter 7 bankruptcy, your disposable monthly income or overall monthly income must be below a certain threshold. The amount of disposable income is determined by subtracting your monthly expenses from your monthly income. However, if your monthly income is lower than the median income for a household with the same number of people in your state, you automatically qualify to file Chapter 7 bankruptcy.

If you are interested in filing Chapter 7 bankruptcy, contact a bankruptcy attorney like Curtis A. Anderson, Attorney At Law in your area.